PeterFM

You might want to look at Alpari. Standard retail FX broker with MT4. As good/bad as any of these types of brokers but I have been with them (in the UK) for some time and have no complaints. I don't scalp (my minimum timeframe is 1-hr for entries) but typically hold trades for days. As mentioned earlier Buy/Sell limit orders are preferable as my main trade entry method but as I never enter trades around major news releases the normal spread-widening that is typical of the FX market at these times is not a problem for me. I would suggest that you apply for a demo and do your own due diligence. A quick email would confirm if your residential status is a problem but as they were originally a Russian setup I'll assume you'll have no problems

Hi JohnThanks for the welcome but looking around I'm feeling slightly out of my depth here. It's a bit different giving basic advice to less experienced newbies to trying to understand the mechanics of Market Profile trading and/or the Wyckoff stuff. I knew I had a lot to learn but it's like starting all over again . Pete

I appreciate you starting this thread. Although this type of trading opportunity has been around for a while I suspect it isn't in common usage yet. The importance to Uk-based traders, compared to CFDs for example, is that there are no tax implications for us. I'm hoping to start discussions on the merits, or otherwise, of various tactics to take advantage of BOs. In the UK there is one main broker for these as far as I can see. As I am not sure of the posting rules I won't post a link but they have a US brokerage as well. I've attached an image of the range of markets they offer. This won't interest any of the senior members here as they are basically a retail broker. For my purposes they are adequate. At present I have based my BO trading using the techniques that I developed over 3+ years of spot FX trading ie Support/Resistance, price action patterns etc. From what I've read so far in the few days since joining this forum I still have a lot to learn. If I can find some insights into the less risky strategies that can be applied to BOs and add to my knowledge of markets overall I will feel myself fortunate. I look forward to any information that you guys would like to impart. Thanks Peter --------

As this discussion fell at the first hurdle when the mention of spread betting came up for UK-based traders, I'd like to raise it again if I may. Binary options are now a legitimate way of trading and strike prices are based on regulated markets. I have kept away from spread betting firms for many of the reasons given here but binaries offer a securer way of trading for some of us. The tax implications are important as previously mentioned - no CGT for example. Here's a link to the CBOE info on Binaries If there is interest I would like to see a Binaries sub-forum available. BTW, I did search for the term but this was the only thread I found.